Market Update

There were 406,000 initial claims for unemployment benefits in the US during the week ending May 22, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in better than the market expectation of 425,000 and followed the previous print of 444,000.

Durable Goods Orders in the United States declined by 1.3%, or $3.2 billion, to $246.2 billion in April, the data published by the US Census Bureau revealed on Thursday. This reading came in worse than the market expectation for an increase of 0.7% and followed March’s print of +1.3% (revised …

Gold prices stabilized Thursday, May 27, below the psychologically important level of $1900 an ounce, after the dollar’s ​​rise limited gains as investors awaited US economic data that might provide clues about inflation and monetary policy. Spot gold fell 0.1% to $ 1895.10 an ounce, after hitting its highest level …

Oil prices fell on Thursday, May 27, but remained within their narrow range this week, as optimism about the summer driving season in the United States and Europe was met with concern about India’s demand and a possible increase in Iranian supplies. Brent crude was down 57 cents, equivalent to …

The US dollar received support Thursday, May 27th from a belief that the US Federal Reserve is slowly but steadily moving toward a discussion of monetary tightening, while the yuan hit its highest level in three years. Investors are sharply reducing their purchases of dollars, as they expect the trade …

A survey concluded that German consumer sentiment improved less than expected with the approach of June, as shopping activity remained cautious despite a decline in the rate of Covid-19 infections and an improvement in the growth outlook for Europe’s largest economy. The GFK said its consumer sentiment index, based on …

There was little change in European stocks at the open Thursday, May 27, as losses in energy sector stocks were offset by gains in the mining sector, while Britain’s HSBC bank’s decision to exit US retail banking services was greeted with a tepid reception. The European Stoxx600 index settled at …

Japanese stocks fell Thursday, May 27, as investors trimmed their positions after a recent increase, in light of a possible extension of emergency measures linked to Covid-19, which raised concerns about the growth of the local economy. The Nikkei index trimmed its losses during the day, closing down 0.33% to …

The proposed budget by the United States President Joe Biden will increase the ratio of the public debt to the gross domestic product (GDP), Secretary of the Treasury, Janet Yellen, said on Thursday. However, the budget will not add extra pressures on the inflation rate, Yellen noted. Speaking to a …

The New York Stock Exchange (NYSE) finished mostly higher on Wednesday, as risk sentiment improves with recent remarks by the Federal Reserve officials easing inflation fears among Wall Street investors, especially in the absence of important economic data. The Dow Jones Industrial Average rose marginally by 10.6 points, or 0.03%, …